Original article by Jonathan Barrett, Elias Visontay
The Guardian Australia – Page: Online : 31-May-23

Data from the International Air Transport Association shows that the price of aviation fuel has halved since peaking in mid-2022, and it is now priced at around the levels at which many airlines operated profitably in 2018. However, data from flight search company Kayak shows that this is not being reflected in the price of airfares in Australia. The average domestic airfare is now about 10 per cent higher than prior to the COVID-19 pandemic, while the average international airfare is more than 50 per cent higher. Nick Schroeder from IBISWorld expects the price of international airfares to start falling in the second half of 2023, adding that they could potentially fall to around pre-pandemic levels within 18-24 months.

CORPORATES
INTERNATIONAL AIR TRANSPORT ASSOCIATION, KAYAK, IBISWORLD PTY LTD